Blockchain for Collaborative Businesses

Abstract

AbstractBlockchain applications have continuously improved ever since its first debut on cryptocurrency. From then on, its uses have branched out from the financial realm, finding their way into numerous industries such as health, environmental, and governmental. Businesses are starting to take advantage of the intrinsic traits that made blockchain so notorious into their operations, such as security, integrity, and transparency. Blockchain’s versatility allows companies to cooperate on a shielded environment with business partners safely. This paper details how permissioned blockchain networks can accommodate collaborative business models securely to provide thriving business alliances. Examples of cooperative business models and business relationship orientation are described here, as well as how they generate value when paired with permissioned blockchain networks - a more business-oriented variety of blockchain. To support this study’s endeavors, business use cases are presented to highlight how simple it is to put in place a permissioned blockchain to businesses to achieve tighter bonds with business partners. The use cases contain particular goals that enterprises seek to accomplish by partnering up with other companies, as well as how, with the employment of blockchain, they can attain them.